The sudden appearance of a weaker labor market is likely what's causing the Fed to be considering a 'skip' this month, giving time for the economy on Main Street, USA to catch up to where the Fed has been on policy.
Does this scream 'Hike!'? It depends on whether you're the Fed, a bull or a bear.
Plus, a couple major stock indexes appear to be in better technical shape.
About 90% of stocks are still struggling, but many market players are celebrating.
Banking problems and recessions are not created and solved in a week.
The macro this week will be focused upon the release of April data for consumer level inflation (CPI) and for producer level inflation (PPI).
We should find some clues when the Fed speaks on Wednesday.
The age of ZIRP, TINA and FOMO was very different than now.
Plus, market participants ignore harbingers of recession for at least one day as stocks rise Thursday, though on muted volume.
The constant growth in continuing claims has been this economy's dirty little secret for several months now.